Power Electronics

International Rectifier to Acquire Epitaxial Services

International Rectifier Corp. (IR) has entered into a definitive agreement to acquire the specialty silicon epitaxial services business of ATMI Inc., subject to customary closing conditions and certain third-party approvals.

IR has been a major, long-term customer of ATMI’s specialty epitaxial services business, located in Mesa, Ariz. "This group has provided excellent service to us over the years, and we are excited to have these employees join the IR team," said IR CEO Alex Lidow. "They will bring innovative knowledge and expertise in specialty silicon and silicon germanium epitaxy, as well as key intellectual property for improving epitaxy deposition throughput and lowering production costs."

Under the terms of the agreement, IR will pay ATMI up to $41 million in cash for the operations and assets of the group, including related intellectual property, fixed assets and inventory. Approximately 90 employees will join IR as part of the agreement. The transaction is expected to close in the September quarter, and IR expects the acquisition to be accretive within the first year.

For more information, visit www.irf.com.

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